Goldman Sachs dispara sus ganancias un 37% hasta $4.100 millones en el tercer trimestre

Los gigantes tradicionales demuestran que aún pueden generar cifras astronómicas mientras el mundo crypto sigue buscando su lugar.

Resultados que impresionan

El banco de inversión registró un salto del 37% en sus beneficios trimestrales, alcanzando la friolera de $4.100 millones. Una cifra que haría sonrojar a la mayoría de proyectos DeFi.

Estrategia probada vs apuestas disruptivas

Mientras las criptomonedas navegan entre regulaciones y volatilidad, los establecidos siguen aplicando fórmulas que generan retornos consistentes. Goldman demuestra que la vieja escuela todavía tiene cartas que jugar.

¿Modelos tradicionales vs disrupción digital?

Los números hablan por sí solos: $4.100 millones de beneficio en solo tres meses. Una rentabilidad que muchos en el espacio crypto todavía sueñan alcanzar - quizás por eso siguen tan obsesionados con hablar de 'adopción institucional' en lugar de generar resultados tangibles.

Fixed income revenue jumps, equities trading lags

Goldman Sachs also rode momentum in fixed income trading. Revenue from that unit rose 17% to $3.47 billion, which beat expectations by $280 million.

The increase was linked to greater action in interest rate products, mortgages, and commodities, as the market reacted to rising yields, housing fluctuations, and commodity volatility. Those swings created profitable trading opportunities for Goldman’s desks.

But equities trading didn’t measure up. While that unit posted a 7% increase, hitting $3.74 billion, it came in $160 million below analyst expectations. The underperformance was a rare miss in an otherwise strong earnings quarter for the bank.

Despite the blowout numbers, Goldman Sachs shares dropped 2% in premarket trading Tuesday morning. Still, as of Monday’s close, the stock had climbed 37% year-to-date, showing just how much investor confidence has returned following a rocky 2024.

Beyond trading and banking, Goldman also announced a new acquisition on Monday: Industry Ventures, a venture capital firm with $7 billion in assets under supervision. The firm was founded in 2000 and is known for its role in venture secondary investing and early-stage hybrid funds.

The acquisition is part of Goldman’s push to grow its asset management arm. The deal includes $665 million in cash and equity up front, plus up to $300 million more depending on Industry Ventures’ future performance.

David Solomon, Goldman Sachs’ Chief Executive Officer, said in a statement, “Industry Ventures pioneered venture secondary investing and early-stage hybrid funds, areas that are rapidly expanding as companies stay private longer and investors seek new forms of liquidity.”

AI, higher comp, and rising expenses shake up the quarter

Employee pay was up, too. Compensation and benefits for the three months ending in September totaled $4.7 billion, a 14% jump from the same period last year.

Through the first nine months of 2025, that number was up 10% compared to 2024. It’s a reflection of how much more Goldman is shelling out to its dealmakers, especially with advisory fees surging.

That compensation increase helped push operating expenses up 14% to $9.45 billion. That figure is also 2% higher than the previous quarter. Solomon said the company is looking to rein in those costs going forward, leaning heavily on artificial intelligence to do it.

“Longer term, we are prioritizing the need to operate more efficiently to seamlessly deliver the firm to our clients helped by our new AI technologies,” he said Tuesday.

Goldman Sachs continues to get most of its revenue from trading and investment banking. The current quarter proved that model still works, especially when markets are volatile and corporate deals are flowing.

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